"Ben Tre Logic" Redux: History Repeats Itself

Forty years ago, in 1968, an American major after the battle of Ben Tre in Viet Nam was quoted by Peter Arnett as having declared, “It became necessary to destroy the town to save it.”

Now, we have the contemporary version, from U.S. President George Walker Bush: “I’ve abandoned free-market principles to save the free-market system.”

This, apparently, is why banks are being paid not to make loans.

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